Spanish funds receive €713m of net subscriptions in July – Inverco

Spanish funds’ assets under management grew by some €1.94bn in July, amounting to around €274bn over the first seven months of the year, Inverco reports.

The figure registered in July is up by 0.7% compared to the previous month.

Spanish funds recorded €713m of net subscriptions in July, gathering €12bn of net new money so far this year.

As per funds’ categories, global funds topped the list receiving €819m of net new money in July and accumulating €8.3bn so far in 2018. In second position, monetary funds received €418m followed by equity funds gathering some €390m of net new money.

Conversely, fixed income funds suffered net redemptions of €336m, followed by absolute return strategies losing €278m and by national equity strategies that saw €227m of net redemptions.

ABOUT THE AUTHOR
Eugenia Jimenez
Eugenia Jiménez speaks Spanish and is Iberia Correspondent for Investment Europe covering Spain & Portugal, as well as assisting with coverage of Italy. She holds a UK NCTJ- accredited Multimedia News Reporting course and studied Journalism at the University of Sevilla. She has worked for local media organisations in Sevilla and Málaga, mainly in broadcasting as a news reporter, among other roles. She has also worked for a local newspaper in Sevilla, reporting on current affairs, local government and culture.

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